For generations, Americans have been subjected to one of the dumbest innovations in coinage: the penny — a worthless hunk of metal that actually costs more to produce than it’s worth. Seriously, each penny costs almost 4 cents to make — meaning that every penny brought into this world is a net loss. What the heck is going on??

For years, the answer was, of course, “lobbyists for some niche industry make money off it so we can’t get rid of it.” However, the U.S. Mint recently announced that they weren’t convinced by this reasoning anymore — and so, they’re ditching the penny for good.

The last penny was officially minted yesterday, November 12th. Now, if you have a transaction that ends in a number not divisible by five (and you’re still paying with cash for some reason), the store will likely just round to the nearest five cents. Card transactions will be processed the same way.

In summary, goodbye and good riddance, penny.